Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Components of net changes in stockholders' equity

The components of net changes in stockholders’ equity for the fiscal quarters of 2022 are as follows:

	Laureate Education, Inc. Stockholders
	Common stock			Additional paid-in capital		Retained earnings (accumulated deficit)		Accumulated other comprehensive loss		Treasury stock at cost		Non-controlling interests		Total stockholders’ equity
	Shares	Amount
Balance at December 31, 2021	180,611	$	915	$	2,388,783	$	15,523	$	(520,204)	$	(744,174)	$	(1,285)	$	1,139,558
Non-cash stock compensation	—	—		2,762		—		—		—		—		2,762
Purchase of treasury stock at cost	(9,485)	—		—		—		—		(112,874)		—		(112,874)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	1,379	6		10,716		—		—		—		—		10,722
Equitable adjustments to stock-based awards	—	—		(189)		—		—		—		—		(189)
Net loss	—	—		—		(44,211)		—		—		(469)		(44,680)
Foreign currency translation adjustment, net of tax of $0	—	—		—		—		49,573		—		2		49,575
Minimum pension liability adjustment, net of tax of $0	—	—		—		—		14		—		—		14
Balance at March 31, 2022	172,505	$	921	$	2,402,072	$	(28,688)	$	(470,617)	$	(857,048)	$	(1,752)	$	1,044,888
Non-cash stock compensation	—	—		2,360		—		—		—		—		2,360
Purchase of treasury stock at cost	(8,013)	—		—		—		—		(93,362)		—		(93,362)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	171	1		(472)		—		—		—		—		(471)
Equitable adjustments to stock-based awards	—	—		(35)		—		—		—		—		(35)
Change in noncontrolling interests	—	—		2		—		—		—		(2)		—
Reclassification of redeemable equity to non-redeemable equity	—	—		316		—		—		—		—		316
Net income	—	—		—		43,423		—		—		136		43,559
Foreign currency translation adjustment, net of tax of $0	—	—		—		—		17,969		—		3		17,972
Balance at June 30, 2022	164,663	$	922	$	2,404,243	$	14,735	$	(452,648)	$	(950,410)	$	(1,615)	$	1,015,227
Non-cash stock compensation	—	—		1,849		—		—		—		—		1,849
Purchase of treasury stock at cost	(77)	—		—		—		—		(862)		—		(862)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	63	—		199		—		—		—		—		199
Special cash distribution accrued on outstanding common stock	—	—		(136,642)		—		—		—		—		(136,642)
Equitable adjustments to stock-based awards	—	—		(770)		—		—		—		—		(770)
Net income	—	—		—		31,117		—		—		(81)		31,036
Foreign currency translation adjustment, net of tax of $0	—	—		—		—		(42,160)		—		(1)		(42,161)
Minimum pension liability adjustment, net of tax of $0	—	—		—		—		983		—		—		983
Balance at September 30, 2022	164,649	$	922	$	2,268,879	$	45,852	$	(493,825)	$	(951,272)	$	(1,697)	$	868,859

The components of net changes in stockholders’ equity for the fiscal quarters of 2021 are as follows:

	Laureate Education, Inc. Stockholders
	Class A common stock			Class B common stock			Additional paid-in capital		Accumulated deficit		Accumulated other comprehensive loss		Treasury stock at cost		Non-controlling interests		Total stockholders’ equity
	Shares	Amount		Shares	Amount
Balance at December 31, 2020	115,119	$	548	90,792	$	363	$	3,760,029	$	(176,822)	$	(941,986)	$	(365,316)	$	(12,882)	$	2,263,934
Beginning retained earnings adjustment	—	—		—	—		—		(101)		—		—		—		(101)
Non-cash stock compensation	—	—		—	—		1,576		—		—		—		—		1,576
Conversion of Class B shares to Class A shares	17,248	69		(17,248)	(69)		—		—		—		—		—		—
Purchase of treasury stock at cost	(10,401)	—		—	—		—		—		—		(145,806)		—		(145,806)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	247	1		—	—		(1,223)		—		—		—		—		(1,222)
Accretion of redeemable noncontrolling interests and equity	—	—		—	—		(20)		—		—		—		—		(20)
Net loss	—	—		—	—		—		(164,928)		—		—		(15)		(164,943)
Foreign currency translation adjustment, net of tax of $0	—	—		—	—		—		—		(59,743)		—		(18)		(59,761)
Minimum pension liability adjustment, net of tax of $0	—	—		—	—		—		—		(168)		—		—		(168)
Balance at March 31, 2021	122,213	$	618	73,544	$	294	$	3,760,362	$	(341,851)	$	(1,001,897)	$	(511,122)	$	(12,915)	$	1,893,489
Non-cash stock compensation	—	—		—	—		3,202		—		—		—		—		3,202
Conversion of Class B shares to Class A shares	2	—		(2)	—		—		—		—		—		—		—
Purchase of treasury stock at cost	(7,548)	—		—	—		—		—		—		(105,786)		—		(105,786)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	119	1		—	—		359		—		—		—		—		360
Accretion of redeemable noncontrolling interests and equity	—	—		—	—		(68)		—		—		—		—		(68)
Reclassification of redeemable noncontrolling interests and equity	—	—		—	—		—		—		—		—		(1)		(1)
Net loss	—	—		—	—		—		(29,000)		—		—		(224)		(29,224)
Foreign currency translation adjustment, net of tax of $0	—	—		—	—		—		—		510,445		—		(2)		510,443
Minimum pension liability adjustment, net of tax of $0	—	—		—	—		—		—		27		—		—		27
Balance at June 30, 2021	114,786	$	619	73,542	$	294	$	3,763,855	$	(370,851)	$	(491,425)	$	(616,908)	$	(13,142)	$	2,272,442
Non-cash stock compensation	—	—		—	—		2,397		—		—		—		—		2,397
Conversion of Class B shares to Class A shares	7,188	29		(7,188)	(29)		—		—		—		—		—		—
Purchase of treasury stock at cost	(7,110)	—		—	—		—		—		—		(112,994)		—		(112,994)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	119	—		—	—		304		—		—		—		—		304
Change in noncontrolling interests	—	—		—	—		90		—		—		—		—		90
Special cash distribution accrued on outstanding common stock	—	—		—	—		(1,271,790)		—		—		—		—		(1,271,790)
Net income	—	—		—	—		—		360,406		—		—		(269)		360,137
Foreign currency translation adjustment, net of tax of $0	—	—		—	—		—		—		(22,648)		—		21		(22,627)
Balance at September 30, 2021	114,983	$	648	66,354	$	265	$	2,494,856	$	(10,445)	$	(514,073)	$	(729,902)	$	(13,390)	$	1,227,959

Schedule of accumulated other comprehensive income (loss)

The components of these balances were as follows:

	September 30, 2022						December 31, 2021
	Laureate Education, Inc.		Noncontrolling Interests		Total		Laureate Education, Inc.		Noncontrolling Interests		Total
Foreign currency translation adjustment	$	(504,090)	$	950	$	(503,140)	$	(529,472)	$	946	$	(528,526)
Unrealized gain on derivatives	10,416		—		10,416		10,416		—		10,416
Minimum pension liability adjustment	(151)		—		(151)		(1,148)		—		(1,148)
Accumulated other comprehensive loss	$	(493,825)	$	950	$	(492,875)	$	(520,204)	$	946	$	(519,258)